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cusimano.comSo there was a clear point in time when all telecommunications companies decided they had to stop being telecommunications companies and become outsourcing firms. Turns out employees are guided by 4 basic emotional needs or drives. Philips in the Netherlands is a proud counter example where the spin offs of Philips are now like five times as big as the Philips original company. So we have a bad situation where companies are turning into outsourcing giants with no actual technical expertise, and the shareholders are super happy about it. Turns out that shareholders are actually very happy with that. They want the share price and dividend to go up, for now. Apart from being complex, Clio still heavily relies on email communication. So we have alienated senior management by telling them one times too many that this is the stupidest idea ever, and them being wrong. And we fight for all technology, even the stuff that is not core because we are attached to it, we love what we do. Update: I’ve been informed that actually, this is not even what they want. They want the company to make money this year, they want the company to make money next year.
And those reports got read by the pension funds, and then the pension funds, told all the telecommunications companies look, if you’re still doing stuff yourself, we’re going to stop investing in you. And index trackers, if you look at who are the actual shareholders of big companies, they are all big pension funds, and they don’t really care. One of the real big problems here in Europe is we do not have a lot of spin offs. We have some very exciting startups that do very exciting things, but we do not have a lot of solid spin offs, where people start their own thing. APETI - Asociación Profesional Española de Traductores e Intérpretes - Founded in 1954, APETI stands for the Spanish Professional Association of Translators and Interpreters; it is a professional body of translators and interpreters in Spain and it’s one of the first of its kind. It’s mostly pension funds.